The Prince of Wales, Prince William, has become his father’s new landlord, according to reports.
The role could see William receive up to £700,000 a year from King Charles for the monarch’s home in Highgrove.
The Prince of Wales, 40, is reportedly now in control of the Duchy of Cornwall and its £345million property portfolio.
The extensive list of properties includes Charles’ beloved Gloucestershire estate.
Prince of Wales ‘has a new role’
The Duchy, which owns 128,000 acres of land and reportedly had a £21million income last year, is traditionally passed to the eldest son of a reigning British monarch.
An insider told The Sun: “The King has a long lease and pays rent on Highgrove House and surrounding land.”
ED! has reached out to William and Charles’ representatives for comment.
Meanwhile, it’s all change within the monarchy following the Queen’s passing.
Brand new coins featuring the portrait of King Charles have recently been revealed to the public.
The new 50p coin and a commemorative £5 coin were recently unveiled and feature an image of the King by British sculptor Martin Jennings.
The 50p coin will be put into circulation before the end of the year and will be distributed by banks, building societies and post offices.
There are currently 27 billion coins featuring the late Queen still in circulation which will continue to be legal tender.
Anne Jessopp, chief executive of The Royal Mint, told the BBC that coins generally lasted for 20 years. As a result, coins featuring the Queen and King Charles III will be in circulation together for some time.
“People should not worry if they have coins with the Queen on. We will keep those coins in circulation,” Mrs Jessopp told the BBC. “We are seeing people moving to different forms of payment, but people really like to use coins as well for lots of different reasons.”
King Charles coronation
Meanwhile, now Charles is king, he’ll be planning a coronation.
According to reports, he may choose to do it on a date which would pay tribute to his late beloved mother.
Her Majesty’s coronation took place on June 2 1953.
Reports claim that Charles could decide to be crowned on the 70th anniversary of this date.
Therefore, King Charles’ coronation may take place on June 2, 2023.
However, compared to the Queen’s back in 1953, it may be a more low-key affair.
A royal source told the Mirror that Charles is “very aware” of the “struggles” Brits are currently facing.
The insider added: “The King has long been an advocate of a streamlined or slimmed-down monarchy and this project could certainly be said to fit with his vision.”
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